Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>In the next several weeks, the South Korean government is likely to provide details of a no visa policy for group tour visitors from China to South Korea.</li>
<li>We provide a list of top 15 Korean companies that could benefit from potential no visa policy for group tour visitors from China to South Korea. </li>
<li>These 15 companies' share prices are up on average 49.2% YTD, sharply outperforming KOSPI and KOSDAQ that are up 21.2% and 15.9%, respectively YTD.</li>
</ul>


In the next several weeks, the South Korean government is likely to provide details of a no visa policy for group tour visitors from China to South Korea.
We provide a list of top 15 Korean companies that could benefit from potential no visa policy for group tour visitors from China to South Korea. 
These 15 companies' share prices are up on average 49.2% YTD, sharply outperforming KOSPI and KOSDAQ that are up 21.2% and 15.9%, respectively YTD.


No Visa For Group Tour Visitors from China to South Korea Likely Starting 3Q 2025

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of May 16th. The aggregated short interest was USD6.5bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Hanmi Semicon, Celltrion, Alteogen, Hanjinkal, Lg Energy Solution, SK Hynix, Posco Future M, Samsung Electronics, Hanwha Vision.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of May 16th. The aggregated short interest was USD6.5bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Hanmi Semicon, Celltrion, Alteogen, Hanjinkal, Lg Energy Solution, SK Hynix, Posco Future M, Samsung Electronics, Hanwha Vision.


KRX Short Interest Weekly (May 16th): Hanmi Semicon, Celltrion, Alteogen, Hanjinkal

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of May 2nd which has an aggregated short interest worth USD5.9bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Daewoo Shipbuilding, Hyundai Heavy Industries, Isupetasys.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of May 2nd which has an aggregated short interest worth USD5.9bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Daewoo Shipbuilding, Hyundai Heavy Industries, Isupetasys.


KRX Short Interest Weekly (May 2nd): Daewoo Shipbuilding, Hyundai Heavy Industries, Isupetasys

<ul>
<li>I recently visited Inspire Entertainment Resort in Yeongjeongdo, Korea with my family. </li>
<li>Overall, I was impressed with its modern, clean facilities, but despite its large size, there was a relative emptiness to the place that made it feel underutilized.</li>
<li>The management rights of Inspire Resort were transferred to Bain Capital from Mohegan Gaming &amp; Entertainment (MGE) in February 2025.</li>
</ul>


I recently visited Inspire Entertainment Resort in Yeongjeongdo, Korea with my family. 
Overall, I was impressed with its modern, clean facilities, but despite its large size, there was a relative emptiness to the place that made it feel underutilized.
The management rights of Inspire Resort were transferred to Bain Capital from Mohegan Gaming &amp; Entertainment (MGE) in February 2025.


A Visit to Inspire Integrated Resort in Incheon, South Korea

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Lotte Global Logistics / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lotte-global-logistics-co" target="_blank" data-smartkarma-citation="entities:45000:1" rel="noopener">Lotte Global Logistics (LGG KS)</a> aims to raise around US$140m in its Korea IPO via selling a mix of primary and secondary shares.</li>
<li>Lotte Global Logistics is a logistics and shipping company engaged in a comprehensive logistics service business including courier service, land transportation, 3PL, port loading and unloading, and international logistics.</li>
<li>In our previous note, we looked at the firm’s past performance. In this note, we talk about the IPO valuations.</li>
</ul>



Lotte Global Logistics (LGG KS) aims to raise around US$140m in its Korea IPO via selling a mix of primary and secondary shares.
Lotte Global Logistics is a logistics and shipping company engaged in a comprehensive logistics service business including courier service, land transportation, 3PL, port loading and unloading, and international logistics.
In our previous note, we looked at the firm’s past performance. In this note, we talk about the IPO valuations.


Lotte Global Logistics IPO - Thoughts on Peer Comp and Valuation

South Korea

Lotte Tour Development Co., Ltd. provides various tour package service. The Company franchises travel agencies, offers home-based travel businesses, and provides leisure-travel information.  The Company also engages in property development and building management and operates duty-free shop business.

Lotte Tour Development Co, Ltd. (032350 KS)

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Lotte Tour Development Co, Ltd. (032350 KS)

No Visa For Group Tour Visitors from China to South Korea Likely Starting 3Q 2025

In the next several weeks, the South Korean government is likely to provide details of a no visa policy for group tour visitors from China to South...

Douglas Kim

KRX Short Interest Weekly (May 16th): Hanmi Semicon, Celltrion, Alteogen, Hanjinkal

We analyzed KRX short interest report for the past week and highlighted short interest changes in Hanmi Semicon (042700 KS), Celltrion (068270 KS),...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (May 2nd): Daewoo Shipbuilding, Hyundai Heavy Industries, Isupetasys

We analyzed KRX short interest report for the past week and highlighted short interest changes in Daewoo Shipbuilding, Hyundai Heavy Industries,...

Ke Yan, CFA, FRM

A Visit to Inspire Integrated Resort in Incheon, South Korea

I recently visited Inspire Entertainment Resort in Yeongjeongdo, Korea. I was impressed with its modern facilities, but there was a relative...

Douglas Kim

Lotte Global Logistics IPO - Thoughts on Peer Comp and Valuation

Lotte Global Logistics aims to raise around US$140m in its Korea IPO via selling a mix of primary and secondary shares. In this note, we talk about...

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)